FreeD Group, a Hong Kong-based software company that built AI-powered chatbots and recommendation engines for clients including Samsung Electronics and Marriott International, raised $15 million in Series B funding.
The round was led by Daiwa ACA APAC Growth Fund & ACA Partners Pte Ltd, with support from The Musketeers Capital, Chinachem Group, HKSTP - Hong Kong Science and Technology Parks Corporation Corporate Venture Fund (CVF), Radiant Tech Ventures Ltd., and SOSV Select Fund.
The capital infusion will allow FreeD Group to expand further into Southeast Asia and the Pacific by adding offices in Indonesia and Thailand and expanding its Singapore operation.
Company: FreeD Group Limited
Raised: $15.0M
Round: Series B
Funding Month: June 2022
Lead Investors: Daiwa ACA APAC Growth & ACA Partners Pte Ltd.
Additional Investors: Musketeers Capital, Chinachem Group, Hong Kong Science & Technology Parks' Corporate Venture Capital Fund, Radiant Tech Ventures, and SOSV's Select Fund
Company Website: https://www.freedgrouptech.com/
Software Category: Digital and Smart Merchandising Solution
About the Company: Founded in 2015 by Abel Zhao and Kenneth Lee, FreeD Group is an award-winning Digital and Smart Merchandising Solution company utilizing Artificial Intelligence, Big Data, and Machine Learning technologies to provide end-2-end digital solutions. FreeD Group’s software helps companies manage their sales and marketing using AI. FreeD’s mission is to create barrier-breaking, customer-centric, data-driven ways of interaction between consumers and brands via our award-winning, proprietary Hybrid SaaS solutions, and services like end-2-end AI Digital Transformation, Smart Merchandising, and Smart Marketing. FreeD Group is the winner of the 2021 Deloitte Technology Rising Start Award, 2021 United Nations UNWTO Global Start-up Competition, and 2018 APAC ICT Grand Award, among many others. FreeD's customer-interaction software clients also include Tencent Holdings, Singapore Telecommunications, and China Mobile. It has nearly 170 staff spread across 12 offices globally.
Source: https://asia.nikkei.com/Business/Startups/Hong-Kong-chatbot-developer-FreeD-raises-15m-from-Daiwa-led-group